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Development Banks Told to Ramp Up Green Ambitions Ahead of COP26

Carbon dioxide emissions from the energy sector are set to rebound 4% across the world’s major economies this year

A solar array in the U.S.

A solar array in the U.S.

Photographer: Bloomberg/Bloomberg

The world’s multilateral development banks must boost their green ambitions to stop carbon emissions from soaring in the most powerful economies, according to the Climate Transparency Report 2021.

Covid-19 lockdowns caused carbon dioxide emissions from the energy sector to fall 6% in 2020, but a rebound of 4% is projected across the Group of 20 nations this year. Argentina, China, India and Indonesia are expected to exceed their 2019 emissions levels before next year.